2 weeks ago
Philippines' Marcos sees 'distinct possibility' of joint China energy exploration
Ferdinand Marcos Jr is the president of the Philippines.
He talked to reporters in Manila and said his country still wants to work with China.
Even though the two countries are arguing over the South China Sea, China is one of the biggest investors in the Philippines.
The Philippines needs more oil and gas for energy.
There are gas deposits under the sea at a place called Reed Bank.
Marcos said there is a 'distinct possibility' the two countries will explore them together.
He thinks the talks have moved forward because everyone involved wants them to succeed.
The two countries have had some tense moments recently, like a clash at Second Thomas Shoal and a water-cannon incident at Scarborough Shoal.
Marcos also said the Philippines has not given up any of its rights and does not need China's permission for resupply missions.
Philippine President Ferdinand Marcos Jr said there is a 'distinct possibility' of joint oil and gas exploration with China despite South China Sea disputes.
Marcos expressed optimism on economic cooperation, saying China remains one of the biggest investors in the Philippines and there is no policy of distancing from China.
Recent tensions include a July clash at Second Thomas Shoal, a water-cannon incident near Scarborough Shoal, and sanctions on the Philippine defence minister.
The Philippines and China resumed high-level talks in March and have discussed joint exploration at Reed Bank, where talks previously broke down over sovereign rights.
Marcos denied any special arrangement with Beijing requiring permission for resupply missions, saying Manila's position had not been weakened.
- Who
- Philippine President Ferdinand Marcos Jr, in remarks about relations with China
- What
- Expressed confidence in economic cooperation and a 'distinct possibility' of joint oil and gas exploration with China despite South China Sea disputes
- Where
- Manila, Philippines, at an event with foreign journalists
- When
- Friday, August 14
- Why
- The Philippines needs a secure oil and gas supply, recent energy supply disruptions and price spikes added urgency, and China remains one of the biggest investors in the Philippines
Philippines' position
Beijing's position
South China Sea sovereignty
Philippines' position
The Philippines relies on a 2016 arbitration ruling that invalidated Beijing's claims, and Marcos insists Manila has not weakened its position or needs permission for resupply missions.
Beijing's position
Beijing claims sovereignty over almost the entire South China Sea, a strategic waterway, with disputes recently escalating into clashes and sanctions on the Philippine defence minister.
Joint energy exploration at Reed Bank
Philippines' position
Marcos says talks on joint exploration of Reed Bank deposits in the Philippine exclusive economic zone have 'moved forward' and all parties want them to succeed.
Beijing's position
Previous negotiations repeatedly broke down because the two sides disagreed over which country had sovereign rights to the area.
Key facts
- Event
- Remarks to foreign journalists in Manila
- Speaker
- Philippine President Ferdinand Marcos Jr
- Date
- Friday, August 14
- Energy project
- Joint oil and gas exploration, including at Reed Bank in the Philippine exclusive economic zone
- Talks timeline
- High-level talks with China resumed in March
- Recent incidents
- Clash at Second Thomas Shoal in July; water-cannon incident near Scarborough Shoal; sanctions on Philippine defence minister
- Trade through South China Sea
- More than $3 trillion annually
- Legal backdrop
- 2016 arbitration ruling invalidated Beijing's claims in a case brought by Manila
Quotes
President Ferdinand Marcos Jr.
President of the Philippines
“We have to find new ways… this discussion has gained prominence. And where we are now, I think we have moved forward. The sense that I get is that all parties involved want it to succeed, and that is always a very good sign.”
theprint.in
“We are continuing to find many, many instances where we are very much in cooperation with China. China is one of the biggest investors still in the Philippines.”
theprint.in
theprint.in
Sources
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